Dr. Rajan Mahtani Is The Rightful Owner Of The Portland Cement Zambia, Confirms Court Of Appeal

The Court of Appeal is one of the highest civilian courts in Zambia. On 31st January 2019, the Court of Appeal announced its final decision on the Portland Cement Zambia case. This case is related to two major business houses in Zambia. One of them is Dr. Rajan Mahtani, noted businessman and philanthropist with numerous successful businesses in Zambia. After his factory, Portland Cement Zambia, was illegally taken away from him, he filed a complaint at the Lusaka High Court. Despite sharing numerous evidences and testimonials, Dr. Rajan Mahtani never received justice as the final decision from Lusaka High Court judge was shocking. According to this final decision, Ventriglias were announced as only shareholders of the Zambezi Portland Cement. To counter this judgement, Dr. Rajan Mahtani took the case to Court of Appeal.

Zambezi Portland Cement

According to the final decision of the Court of Appeal, Dr. Rajan Mahtani owned Finsbury Investments is the majority shareholder of the Zambezi Portland Cement with 58 percent shares. At the same time, Ventriglias owned Ital Terrazzo Limited is the minority shareholder of the Zambezi Portland Cement with only 42 percent shares. Based on this shareholding pattern, Dr. Rajan Mahtani automatically becomes the majority shareholder of the Zambezi Portland Cement factory. This decision from the Court of Appeal also aligns with the original shareholders agreement which was established in the year 2007. While giving this decision, the judge from the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as only shareholders as this decision was biased and misdirected.

All forgery allegations were discarded and three months were given to complete the share regularization process. After the final judgement from the Court of Appeal, publications and reports were released contrasting the judgement from the Court. However, these publications were found to be inconsistent and were later redacted.

Leave a Reply

Your email address will not be published. Required fields are marked *